Recently, the U.S. District Court for the Southern District of Indiana has ordered the fiduciaries of health benefit plan to pay restitution of $145,635 to 596 employees who paid a tobacco use surcharge as part of their medical insurance premium.
On average, they offer 27 core investment options, according to ICI and BrightScope
Findings in a Buck survey demonstrate that a failure to creatively invest in employee wellness can result in many adverse consequences for the success and sustainability of a business.
DWC – The 401(k) Experts brings in industry veteran as first in-house actuary; Ascensus adds two executives to retirement division; Willis Towers Watson announces leader of expat benefits solutions; and more.
The top economists at J.P. Morgan Asset Management and Vanguard remind investors that volatility is normal, and that long-term thinking is a solution to short-term stress about equity prices.
Plan sponsors may now elect to enable participant website navigation in Spanish, as well as full translation of select pages.
Northern Trust purchases FX software provider; Nuveen incorporates ESG funds to fixed-income lineup and Nuveen launches quantitative strategies affiliate.
Now that automatic and default features have gained widespread acceptance in DC retirement plans, it may be time to consider additional steps to further enhance participant retirement preparedness.
Industry comment letters argued that many 403(b) plan sponsors were unaware of the rule that once a part-time employee is eligible to make elective deferrals, he cannot be excluded from the plan in subsequent years.
ESOP participants have an average retirement balance of $170,326, more than twice the $80,339 that other workers have saved
There are goals and deadlines during the termination process, so a plan sponsor doesn’t want to hit a roadblock and have to start the process all over again.
One plan type for which coverage determinations are most frequently requested is church plans, according to the agency.
In general, the Required Amendments List includes statutory and administrative changes in qualification requirements for individually designed retirement plans that are first effective during the plan year in which the list is published.
Optum says the enhancement has already shown results; accountholders who were targeted with new messages increased their balances, became eligible to invest, and chose to open investment accounts.
